The New Solicitors Accounts Regulations came into force on 1 July 2023

The New Solicitors Accounts Regulations came into force on 1st July.

They introduce new and important protections for client monies. In addition, various provisions of the existing regulations which were considered inadequate or not sufficiently clear have been amended. The new regulations have implications for solicitors, reporting accountants and Law Society Investigations.

The object of La Touche Training’s webinar is to provide you with an overview of the changes introduced and to assess the impact for practitioners in day-to-day practice.

New Solicitors Accounts Regulations
On-Demand Webinar

Featuring:

• Chairperson Christopher Callan, Callan Tansey Solicitors.
• Martin Lawlor, Regulatory Compliance Partner at Coghlan Kelly Solicitors.

The New Solicitors Accounts Regulations came into force on 1 July.
They introduce new and important protections for client monies. In addition, various provisions of the existing regulations which were considered inadequate or not sufficiently clear have been amended. The new regulations have implications for solicitors, reporting accountants and Law Society Investigations.

The object of La Touche Training’s webinar is to provide you with an overview of the changes introduced and to assess the impact for practitioners in day-to-day practice.

Practitioners should note that training in accounting is mandatory for sole practitioners or compliance partners and/or anti-money laundering compliance partners under The Law Society’s CPD Scheme.

Matters to be addressed include the following:

• Does a solicitor need to open a separate bank account when acting as a personal representative of an estate?
• How frequently must balancing statements be prepared in respect of client account transactions?
• Must client ledger balances be reviewed for undue or unnecessary delays in discharging client monies and immediate action taken to clear same?
• Must a listing of client ledger balances outstanding for two years or more be prepared at the accounting date? Is the reporting accountant required to furnish this list to the Law Society?
• Is it a requirement to furnish clients with a statement of account in respect of each matter?
• Are practitioners required to return client monies to clients when the legal service is completed?
• Evidence of payment in cash: must this include the witnessed signature of the recipient?
• Transfers of funds from client to office account: are these transfers to be related to specific clients?

Plus much more!

For further information and to register your place, please see here.
On-Demand Webinar 1.5 Regulatory CPD Hours